[music is math]

That's a very grim fiscal picture there. Good solid analysis nonetheless.

for contrast with the US' relatively parlous fiscal position, here's some Australian news to make your eyes water:

Budget surplus to soar

It should be noted that the three levels of government here in australia eat about ~1/3 or so of GDP, marginally higher than the US, or roundabout the margin of statistical error. Meanwhile the federal government has surpluses up the ass (from the article):

THE Federal Government will be debt-free in just over a year regardless of whether it sells Telstra, a leading economic forecaster says.

Australia debt-free in a year - cool!

[pickrell]

"...Australia debt-free in a year - cool!..."

Do you have room downunder for a guy too old to enlist, too fat to fight and too ugly to run for office? I have my own roto-tiller...